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that could very well damage the economy. but the air of compromise among some notable republicans is definitely grabbing attention. the republicans' comments quickly caught fire. >> i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> a pledge you signed 20 years ago, 18 years ago is for that congress. the world has changed and the economic situation is different. >> i'm not obligated on the pledge. i made tennesseans aware, i was just elected, that the only thing i'm monitoring is the oath that i take when i serve when i'm sworn in this january. >> reporter: gop lawmakers bluntly stating to alert the fiscal cliff, they're ready to break from grover norquist and the pledge he's got most republicans to sign to never raise taxes. norquist waste nod time hitting back on cnn's s"starting point" >> it doesn't pass the laugh test. if you want to go to your voters and say, i promised you this and i'm breaking that problem, you can have that conversation with them. but you don't have an argument with me. you've made a c
. and as erika miller explains, the event highlights the importance of small businesses to the nation's economy. >> reporter: tomorrow is the most important sales day of the year for pam nelson, co-owner of butter lane bakery in manhattan. >> it's our biggest day of the year. valentine's day used to be our biggest day of the year. now it is, by far, small business saturday. >> reporter: last year, sales quadrupled the saturday after thanksgiving. this year, she's hoping for even bigger gains. todd and leisl gibson are also hoping for a surge in orders tomorrow. the husband and wife team own a craft products business called leisl and company. small business saturday was also their biggest sales day last year. >> that one saturday, we did about 20 times our typical order volume for a regular saturday. >> reporter: special promotions and marketing clearly help drive sales. but the firms say customers also like supporting business owners they know. >> they like the fact that they feel like they know leisl. and they know todd. and they see pictures of our daughter. and they know when they buy patter
, it could have serious consequences on the economy. >> i want to ask you both to weigh in on this question. kristen, you do the political angle and neil you give me the nuts and bolts. yesterday john boehner wrote an op-ed calling for the health care law to be part of the negotiations, he wrote in part the president's health care law at the massive, expensive, unworkable program when the national debt exceeds the size of our country's entire economy. we can't afford it, and can't afford to leave it intact. is john boehner right? >> no. look, it's a law that does a lot of things with the health care system. it's not predominantly a fiscal issue, in that that when the government does anything, it affects taxes. if you're the president you have no incentive to allow the health care law to be on the table in these negotiations. maybe on the edges there are a few spending programs you're willing to negotiate over. but in terms of the health insurance mandate and exchanges, all the things in this complicated law that passed two years ago, you're really going to draw the line and say, we're not g
breaking this pledge? >> let's distinguish with what boehner have said. i certainly agree, if the economy grew at 4% instead of 2% for the next decade, the federal government would net an additional $5 trillion. you could pay all of obama's death down. connell: that is not what he is talking about. >> okay. i am sorry. what he said is what i said. what obama claims he said is a separate matter. boehner was very clear. obama said, oh, you have agreed to tax increases. the talks collapsed because obama misstated. connell: what you say to republicans who are thinking about breaking the pledge? >> look, most republicans have signed the pledge. even the ones who have not have made it very clear even when they ran for office, higher taxes have hurt the economy. they have spent too much money. the entitlements are looking to break the economy. we need to spend less. raising taxes to get the politicians more money to continue spending, does not solve any problems. connell: i know you think this is the narratives being pushed by the media and all of that, if they do break it, that does speak to yo
the start of something big for the u.s. economy. 147 million people were expected to shop between friday and sunday. record numbers of shoppers are making purchases on their mobile devices or ipads, and for those who did venture out today, the foot traffic wasn't just at big box retailers but also at mom and pop neighborhood stores, part of a concerted effort to promote small business on this holiday saturday. nbc's michelle franzen has been out in the crowds today, she joins us in front of macy's, the flagship store in new york. good evening, michelle. >> reporter: good evening, kate. consumer confidence has been improving over the last few months, and retailers are hoping that new excitement along with the emotions of the holiday season will translate into a boost in sales. the hunt for deals today paid off for donna bunk, who was just getting started with her holiday shopping in new york city. >> not expecting to get a pair of boots but when you walk past these and they're only $30, how could you go wrong? >> reporter: just the attitude retailers are banking on that the crucial holida
eye on wall street, yes wall street opened today. retail is the key to of of the u.s. economy. consumer spending accounts for 70 percent of our economy. shopping trends on black friday may show that shoppers have a stronger appetite for spending over the next couple of weeks. 4% of the retailer's revenue comes from the black friday. at a quick break here as the kron4 morning news continues. beautiful looking around the bay to the moscow may center they're getting and holidays. there spirit. we l be back. 0ñ@Ñ on a quick check from skies seven h d, this is out over livermore right now. this is a pared down out lead that opened a few weeks ago. look at all the cars around and this outlet mall. so many people ride it that they had to use the dirt parking lot next door for the overspill. tough parking conditions getting there this morning. a lot of the shoppers are there. take a look here at this chopper shot i do not see a parking space. not one. is pretty crowded out there. as all the bay area malls right now. we will keep checking back in giving you the parking situations in
the fiscal cliff could cost the economy, the equivalent of four times what shoppers spent over black friday weekend. >> tom: i'm tom hudson. it's cyber monday, and shoppers are online, and spending; they'll shell out an estimated $1.5 billion online today. >> susie: and change comes to the nation's top securities regulator: mary schapiro is stepping down. we look at what's next for the securities and exchange commission, and its new leader. >> tom: that and more tonight on "n.b.r."! >> susie: americans were back at work today after a long holiday weekend, but returned to the same worries about the fiscal cliff. and a new report from the white house added to the worries, showing that unless there's a deal on solving the crisis, the u.s. economy would suffer big time. the obama administration's economists estimate consumers would spend about $200 billion less next year than they would have otherwise. congress and the administration have only a few more weeks to nail down a deal. but that deal will have to address some tough issues, including entitlement reform. darren gersh explains. >> repor
strategy pay off for retailers? will concerns about the sluggish economy and the fiscal cliff keep consumers home? all questions we seek answers to. >> let's get some answers. cnbc contributor stacy liblet at queens center mall here in new york city. we also have liz dunn of mcquarry capital on the west coast in san francisco. great to have you all with us. laura, why don't i get to you first of all. what are you seeing out there on the floor of the malls? >> so traffic's slowing a little bit which is normal for the afternoon. i think that most of the traffic -- most of the big buys were for electronics and toys. those happened last night. they may be happening online more and more. but the mall's bit slow, we think, relative to a year ago. >> do you think people came in earlier with all of these earlier openings that we've been hearing about? do you feel maybe that's just drifted off a little bit as everyone's now done their shopping and gone loam to bed? >> i'm pretty sure that that is what has happened here. you don't normally see -- this is an urban mall in queens. i would not
serious consequences for the entire economy. a lot of details here and they are coming up inside fox report. well, just hours remain in what is expected to be the biggest online shopping day ever. the research firm core score predicts americans will spend $1.5 billion online today alone this cyber monday. that's up 20% from last year. the national retail federation reports the average holiday shopper spent $423 this weekend in stores and online. total spending an estimated $59 billion. cheryl casone live from the fox business network with us tonight. cheryl, that's a big shot in the army for the economy. isn't it? >> it certainly is, shepard. we are seeing an allot of interest in online shopping today. initial numbers into fox business about how many people are out there spending this, today cyber monday. this is going to be already the biggest cyber monday ever when it comes to sales or revenues for the nation's he biggest retailers. number one amazon.com. number two wal-mart. 122 million people shopping today on web sites with the estimate looks like at this point we are going to b
consumer giving the economy a big lift or will fears about the fiscal cliff get in the way? a roundtable discussion is up next. you saw sears and kmart president kick off the open at the nasdaq. can his store ring up strong sales this holiday season? we'll head to break and look at this morning's early movers on wall street led by best buy up 1.6%. with the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. if we want to improve our schools... ... what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so
? >> it's a very bifurcated economy today with the consumer. you have high end consumers that are still feeling pretty good but in very basic every day needs like food as well as basic services, et cetera, people no matter what economic strata they're in, they are trying to save on those basics. >> explains a lot about where we are. >> took my breath away. what he's saying is there's a huge percentage of people trying to pay for dinner and dinner is tough to come by and you forget about that on a fiscal cliff discussion that will be even more difficult for people to pay for dinner and he did this acquisition because he knows people are hurting in this country. >> there's the opening bell. s&p at the top of your screen. here's big board at that. prosperity bank shares marking transfer from the nasdaq and over at the nasdaq. >> you're talking about dinner. we are having discussion about whole foods under pressure of late. the company missed. the cfo resigned. never a good thing for a company when you hear a cfo resigning. stock down 18.25%. smaller cap company. it's 2.9 billion. decent ac
that central bankers can't rescue the u.s. economy if it goes over the fiscal cliff. paul is president of financial capital. given that we're talking about this so much with these guys not around, all we do is we keep showing how much time we have as it's ticking down. when they do get back, paul, how do you think that the deal looks if they do put one together, and do they get it done? >> good morning, and happy thanksgiving to y'all. we all know it's getting done, whether it gets done before christmas or in january, a deal's going to get done. i think also everyone knows taxes are unfortunately -- taxes are going to go up. i don't know it's going to be at the 250 level. maybe at the 500 or million-dollar level. but taxes are going to go up and expenses are going to get cut. so we all wish they would stop the jawboning and positioning and politicking, sit in a room with dulls, both give in a little bit and move on. but they're going to push and push and push and the markets will push a deal to get it done. >> so if you were trying to decide what to do, would you just stand pat with eq
have something really worked out because look at what the economy -- look at where consumer sentiment is over the last couple months. i don't think they can really, you know, run the risk of that falling back. we made so much improvement over the last couple months. at least macroeconomicly, they can't run the risk of this thing going over. >> what does it mean for the stock market and how many different things are affecting it right now? i figure not knowing where tax policy is next year, some people know it will be hire, so they're probably just going to sell into december 31st. and then you've got continuing problems in europe, as well, morgan stanley has a report out about possible recession in 2013. what are the factors that influence the market at 13,000 and do you think it's a good time to ad money or take money out? >> short term, i think the feeling is that things are going to work out. so we'll be in this range here of in the s&ps 1390, 1420. i think if we break 1390, we get down to that next 1360 level will, again, there is so much money on the sidelines waiting to do somet
get enough of a recovery. i think we need a deal on the economy and on the budget and the debt, but i think until we get that, we need to have unemployment -- >> we have extended food stamps to 47 million people. we have extended unemployment benefits for up to two years and may extend them again. extended reach of earned income tax credit which is a massive check in the mail to millions of people every january. >> who are working and earning money and rewarding them for work. stuart: most corrupt of all government handout programs. >> it shouldn't be corrupt. it was a good idea and started by ronald reagan. stuart: you would not change the safety net as it now stands? >> i would try to make it work more efficiently but would not change it. stuart: you don't think there's anything wrong with a nation which has all of these millions of people, half the population taking something from the government. >> i think there is a lot right about that in an economic time of devastation. we can make the programs work better, but the programs shouldn't be eliminated because there's corruption whe
.s. economy. i thinkist the moguling being throw in front of it, our self-inflected issues, you know, last time around we sequestration. are we going to have sequestration 2? of course we'll put a band-aid, but we need leverage to have reform predicated to surrender on the band-aid. >>> we've got to go, guys. i've got to go with this. we've got to move on. this is the last hour of trading, so we've got to move here. thank you for your thoughts today. steve, thank you, you're voting on a committee of politicians. i find hope in that somehow. >> yeah. you're in the hopeful camp. >> hoping at the last moment they will do the right thing. >> was that a pig that just flew by? the market is slowly coming off the lows. >> instead the last time the markets closed in positive territory on black friday was 2008. let's see if we can do it again. we have full team coverage of where it's shaping up to be a jolly holiday season. >> our luxury or discount retailers. >>> and walmart workers threatening to walk off the job. are these protests having a real impact, or was it a lot of noise? we'll speak to o
to estimates, 31,000 jobs could be created by exploring that area. we think it's good for the economy. it's good for tax revenue. it is something that the president could do. >> i have followed this industry for a long time. these estimates are very conservative, there is always a lot more out there than what they are saying. but at the same time, the president has been a big file of drilling on public land. he blocked the keystone pipeline and that would've meant a lot of jobs and oil and lower gas prices for everyone. i feel that he won't be in your corner on this one. what are you going to do about that? what is your most persuasive argument, and what is your plan if he stands in the way? >> there is a five-year plan in place. the interior department has issued that there are thousands of offshore wells being developed right now in the goal. and in lockstep. so this is not an unusual activity. the outer continental shelf is there to help us produce energy and there is huge demand for energy in the future. the u.s., the international agency just produced a report this week that said the
the economy in gaza as well. gregg: general jack keane who advised hillary clinton, thanks very much. >> happy thanksgiving, gregg. gregg: you too, sir. ainsley: thanks, greging. we're now getting new reaction from jesse jackson jr. stepping down. we will have all those details. gregg: and workers protesting at the los angeles international airport. the busiest travel day of the year, why the unions are now choosing this time to flex its muscle. >> happy thanksgiving, i love you, happy new year, and i'll be home soon. god bless. go, big red. gregg: developing right now in "america's newsroom," the bbc getting a new boss, tapping tony hall to head the british television network. he is the current chief executive of the royal opera house. >>> former french president nicolas sarkozy heads to court answering questions about suspicions he illegally accepted donations from france's richest woman to fund his 2007 election. he denies the allegations. >>> and the national park service says the statue of liberty, ellis island, both will not reopen to visit thers year. those sites have been closed for cl
when you add economic disaster with good prospects down the road people take to the streets the economy in egypt has not gotten better. >> then to have the right course of the track them to replace with another dictator. >> that has not because of political stability. they are getting their money out with business opportunities and prospects so people are back in the street. they don't get $1.5 billion per month then they don't have food. melissa: k.t. mcfarland. let's check the market with nicole petallides at new york stock exchange. facebook is called to outperform over the next year? >> we have seen facebook get pummeled from the ipo at $38 and is sold off but the last three months have been looking better it is up over 8% but the one that you talk about they are somewhat bearish saying it will outperform the s&p and lot of people underestimating the revenue growth over 10 or two years. a positive note for facebook. melissa: the park ridge in a bare tree will cost you more the hold gift list would be $107,000.61% increase over last year but not everything cost more out of the 300 an
, showing that unless there's a deal on solving the crisis, the u.s. economy would suffer big time. the obama administration's economists estimate consumers would spend about $200 billion less next year than they would have otherwise. congress and the administration have only a few more weeks to nail down a deal. but that deal will have to address some tough issues, including entitlement reform. darren gersh explains. >> reporter: the big money in entitlements is in health care, and that means any grand bargain to avoid the fiscal cliff will slice away at one of the nation's most popular programs. >> medicare is clearly in the gunsights. >> reporter: it's possible congress and the president could agree to save $300 to $400 billion from medicare by cutting fees for doctors and hospitals. but analysts worry slashing payments won't make the health care system more efficient. >> this is not really a way to structurally change medicare and if you don't change the underlying incentives, you don't get long-term savings. >> reporter: progressives at the center for american progress say the
us a lot about the state of the consumer and the u.s. economy today. so we're turning to one of the most seasoned and respected voices on wall street for help. we have dana telsey. she is our guest host for the next three hours. andrew, i'll send it over to you. >> we begin with a visit to toyland and here is toys r us. it opened its doors at 8:00 last night. and we have toys r us ceo joining us right now from the company's flagship store in times square. good morning. >> good morning. >> so i read a report you you had a big line. what's it been like all evening? >> it's been great. we did have a big line. we're at 44th and broadway.line went all the the way to 45th street and then down 45th all the way to 6th avenue. it was huge. people came in in a real celebratory mood. people ate ice cream, relaxed with their kids. i've never seen a black friday like this before, but 8:00 hour worked really well for families. >> let's talk about sales. how did it go overnight? >> we're just starting. this is 5:00 a.m. on black friday morning. we're really just starting. we have about a b.
to the economy. >>> and to a developing story now out of new england tonight. an explosion in springfield, massachusetts. this camera capturing the explosion right when it happened. two buildings flattened, sending a huge cloud of dark smoke into the air. right now, it appears a natural gas leak could be the cause. we're told the impact could be felt miles away. >>> to the weather now and to two real signs of what's come to. snow in michigan this evening at this college football game between northern illinois and eastern michigan. all part of a massive storm gathering steam. and the other headline? the plummeting temperatures. so, we bring in abc mrng jinger see. that system with all the snow, that's on the move tonight? >> reporter: that is. and, you know, we're going to drop off a little bit on the east coast, temperature wise but we're not going to get the snow. in places up in northern wisconsin, northern michigan, already 8 to 12 inches. let's see where that lake effect snoet moves now. still going to get a few more inches in parts of michigan and wisconsin, but look it from clevelan
the local economy and community. >> we love what's left of hardware stores. any kind of small store. you have to spend your dollars there. otherwise we will go away. >> shoppers say among the benefit of shopping at small and local businesses are that they often carry unique products and offer a better more personalized shopping experience. >> while thousands of people were outlooking for those bargains today one group of bay area women went to nordstrom. cbs 5 reporter chen shows us they weren't shopping for gifts. they were making them. >> in a a corner needles are clicking and women are chatting. meet the knitters they meet for cake conversation and community service. >> it's very good for the soul you know what i mean. >> the two dozen where i am mostly retired schoolteachers and principals. they can spin a yard or two their fingers do curious work fashioning a christmas gifts. they're donating 300 carves and hats. the program run by billy graham's son frankly hopes to give 9 million children shoe box gifts worldwide. >> this may be the only gift they get and it tells the true meaning
throw the economy back into recession. two million more americans could be left out of a job and most troubling of all according to the pentagon, the country's national security would be in serious jeopardy. if congress and the white house do not act. chris stirewalt is our fox news digital politics editor p.o.w. or play on foxnews.com. they cut the deal that put the automatic spending cuts in place and these automatic tax hikes in place thinking this will never happen. they went back, said all right, now that we have it in place let's try to fix it. well they failed. there wasn't the political will to deal with it at the time they passed. there wasn't the political will at the time they tried to deal with it and it was a complete political debach kill. now you have some people saying let it happen. the let's see what happens. we may be in a better negotiating pitch if we let it happen and american people are the ones who are going to pay. >> well, megyn, these are not just rank-and-file democrats talking about this. patty murray, who is the head of the senate democrats campaign arm.
your old 401(k) into a fidelity ira and take control of your personal economy. this is going to be helpful. call or come in today. fidelity investments. turn here. >> quick head lines. toyota recalling sacomma because the spare tire can fall off. the plate used to hold the tire can rust or break after exposure to road salt. thousands of walmart workers getting ready for black friday walk out. some california workers started picketing today. the union backed workers want walmart from trying to deter them from speaking out for better pay and benefits. that ought to help the sanity of black friday. >> and why not go in the base pro tap. and that starts today. and jennifer and luke snider join us live this morning. they are newly wells. with black friday coming up. bass pro shop is over. they are camps out. nthey have santa wond are land. come out and get a free picture with santa. >> starting off with great deals you have here. my son would flip out and anything truck related or toy related. this is a four-f150 monster replica, right? >> i think i want one of these for myself. i
gravy and 320 calories. marie callender's. it's time to savor. not in this economy. we also have zero free time, and my dad moving in. so we went to fidelity. we looked at our family's goals and some ways to help us get there. they helped me fix my economy, the one in my house. now they're managing my investments for me. and with fidelity, getting back on track was easier than i thought. call or come in today to take control of your personal economy. get one-on-one help from america's retirement leader. >> welcome back. attorney general eric older in the hot seat this time for the handling of the david petraeus affair and the decision not to inform the president about this until after the election. >> we conducted the investigation and we made the determination as we were going through the matter that there was not a threat to national security. had we made the determination that a threat to national security existed we would have made that known to the president and appropriate members on the hill. but was the president really kept in the dark about a potential national security risk
deal will be a real boost to the economy for the next year. do you agree with that? >> yeah, i think he's right. we've seen already a real slowdown in capital spending because of this risk hanging over things. so if that risk goes away, suddenly businesses are going to feel a lot better. it's suddenly, okay, one of those big storm clouds has passed. consumers will feel better. that would be a benefit. we're already seeing some strength in other areas of the country. housing has been looking better. 2013 could be a pretty good year if we get through this without a confidence shattering incident. >> chris, the president spoke about how people agree with him. do you get a sense that the white house will take the fight over tax rates for the wealthy all the way down to the wire? >> reporter: i get the sense that they will in large part because democrats are saying that the president absolutely has to do this. this is a key part of his platform during this campaign. you tlaremember that he said bee they have to let it expire. he caved on that. they want to see him hold the line. as you point
hostage, but the economy as well. production can't continue as long as this uncertainty. >> alisyn: jonathan, they don't think that they are he' holding the american people hostage, they think they're standing on principle so when both sides think they are he' standing on principle, how are they ever going to meet in the middle by december 31st? >> well, and the president's standing on principle and standing on the wrong principle. he's standing on the principle that the rich have to pay for entitlement state. obama believes that the rich have to pay for his entitlement spending, the result of course is more redistribution, less wealth. less production and who will he blame when the time comes if the economy is weak? he'll blame the rich of course. yes, people are standing on principles and i think they are he' standing on the wrong principles, that's government spending and control creates wealth. we know it doesn't, but yet, that seems to be the direction at least many on the left want to bring us down. >> alisyn: let's say the worst happens and let's say that the fiscal cliff, w
and business morse certainty about the economy. but he wants those with incomes over $250,000 a year to pay a little more in taxes as we all know. which has been a sticking point with the gop. but now some republican lawmakers who earlier pledged to not vote for anything with a tax increase now appear ready to relink wish that pledge in order to avoid the looping fiscal crisis. >> i would be very much opposed to raising tax rates, but i do believe we can close a lot of loopholes. >> they have to go up either real tax rates or effective tax rates. there is ways of doing that. secondly, though, we've got to close significant loopholes. >> bottom line, getting back to the report, the president is asking congress it act now specs tend the tax cuts for the middle class. they say the holiday season is not a time to threaten middle class pocketbooks. back to you. >> steve: thanks very much. the white house wants all the people who voted for barak obama to flood congressmen with e-mail and also with video messages via youtube saying why we should raise taxes on the rich. >> gretchen: so it's mainly
crucial part of the business as the u.s. economy tries to rebuild itself? >> it is an important part of the businnss. also challenged. you have to look at europe and what is going on, european travelers are not going to be traveling to the extent they have in the past but then you have brazil which is a growing and booming business in terms of traveling into new york and los angeles and florida certainly and the asian market. the fastest growing talk in terms of international stocks. i am hoping these international travelers will upset what is going on in europe today and overall similar -- this tour was unbelievable in terms of the international countries coming in this morning. i must have heard 50 different languages standing at the door in 18 minutes so clearly the international traveler at the square. cheryl: let me ask about the u.s. economy. a big discussion many ceos are telling us the fiscal cliff isn't passing uncertainty, makes them nervous. what will my tax rate look like next year? what will regulation look like? what will regulation look like? do you have the same conce
office the cbo and outside observers, fiscal shock of that size would sent the economy toppling back into recession. >> and it wouldn't keep saying the deal's going to get done. if not, there are real repercussions, steve. >> absolutely. but, alex, what we're looking at now, as we head into next week, the general framework for the talk for the next four weeks is kind of a two-track system. one is let's do some agreement to avoid the fiscal cliff and that may be another short-term agreement to extend the rates, extend the spending as is, or maybe a slight modification and we'll have a negotiation next year on part two the grand bargain to overhaul the tax code and spending. i think both sides go into this with the general agreement, the leaders, that is, that they're going to have a short-term solution. i think the stock market's going to take a bit of a hit in the three or four weeks until we get to that end game but i think they're moving toward that. >> david, you agree with that? we're going to get something whether permanent or a downpayment. >> i think so. neither side wants a r
back on when in other parts of their life they are holding back. we know the economy is still so somewhat sluggish. when we talked to shoppers here, they say it's christmas. what are you going to do? >> i tell you, that puts to rest all of us who thought, well, maybe people don't want to show up on thanksgiving. not if you're going to walmart. courtney, thank you so much, it there in dayton, ohio, appreciate it. >>> up next, our political power panel weighs in on the tough road ahead for fiscal cliff negotiations. and still ahead, the great holiday escape. tracking the best deals and discounts for your getaways. is it better to be the early bird...or the earliest bird? on black friday, it doesn't matter, as long as we end up here at 5 a.m., or at homedepot.com, starting thursday. where prices have been cut, chopped, and sanded... on the most powerful tools that cut. ...chop... ...and sand. so we, or somebody on our list, can do the same. more saving. more doing. that's the power of the home depot. the early bird gets a special buy on a ryobi two-piece lithium-ion kit, just $99. w
with this thing, the whole world is going to be watching us screw it up again and it's going to hurt the economy no matter who is in charge, it will hurt everybody, and we better darn well have a deal. i think they're the strongest push, better than the progressives, in get a deal. your thoughts? >> i think dick durbin is a hero. i'd give him the medal of honor with oak leaf clusters. he was on our commission. when you give a spread between dick durbin and tom coburn and get five democrats and five republicans, one independent, 60% of the commission a supermajority and everybody walks away because they all say, and durbin is tremendous, he's absolutely up front on that, but everybody is saying, well, it's the framework. we don't care whether our names are connected with it. call it rivlin domenici, that's a beautiful piece of work, the gang of eight, but for god's sake get off your can and do something. unless you go big, go home because on december 31st there's a mess floating around right now, about 7.2 trillion bucks worth of stuff in ten years. got to do something. >> why do members of the h
. israel says it will end air strikes and will ease border restrictions that have stifled gaza's economy for years. after a deal was reached the residents poured into the streets of gaza, cheers and celebratory gunshots replaced the sounds of gunfire. in tel aviv most israelis were happy to hear the news. >> i would like to believe that no fighting is always more good than fighting. >> reporter: egypt's new islamist government was the driving force behind the negotiations to end the conflict with diplomatic help from secretary of state hillary clinton. clinton spent two days shuttling between jerusalem, west bank and cairo. >> people of this region deserve a chance to live free from fear and violence and today's agreement is a step in the right direction. >> reporter: clinton expects egypt to play a key role in maintaining peace. now israel's prime minister benjamin netanyahu said he's willing to give the cease-fire a chance but holds the possibility of resuming fighting. head of hamas said israel is destined for defeat. >> susan mcginnis in washington on this thanksgiving morning. thank
about the economy. he was shopping in a book store. here's the video. the president buying the books. we'll go over and show books you are getting. and okay, get out -- five minutes. and look at that. >> >> steve: funny. not true. fiscal cliff. what is the fiscal cliff. what that means right now all of the taxings for the most part are scheduled to go up and spending cuts are sposed to go in place and if that is not enough. democrats are insisting that alongg with the fiscal cliff there should be an agreement on raising the debt limit. >> brian: billionns or trillions. going to hit the ceiling. you want to know how it relate to you. it is 2000 per family and everyone making a certain amount of money. we could be heading to this. and it is not to anyone's ben benefit to go over the cliff. there is a push to how to get manage done. president of the united states is going on the campaign traill through a series of rallies. >> steve: to a tinker toy factory. >> brian: get yourself up to lincoln log jacks on the way home. >> gretchen: this is disconcerting once again. instid of members that w
the holidays and enjoy activities together. hopefully it will help the economy here in downtown. >> on friday we learned the nhl cancelled all hockey games through mid-december. many are optimistic the sharks will take to the ice before the end of the year. >> terry: 25,000 people, twice as many as last year crowded into san francisco's union square for the annual tree lighting ceremony. it was a 23rd straight year for the macy's sponsored tree lighting. how many lights? 33,000. how many ornaments 1100. it's 38 feet and it is spectacular and twice as many people as last year. it sounds good. >> lisa: yeah, for the shopping and weather will cooperate or if you are going to shop or temperatures in the 70s at beach. >> shop in shorts. >> lisa: you can do that. we are looking at haze from the sutro camera. still cold up in santa rosa in the 30s. fog up by the delta. mild in the city. we've got it all including rain heading your next. >> terry:, college hoops season, >> terry:, college hoops season, only onelet's play: [ all ] who's new in the fridge! our mystery guest: ensure complete... uh...do
morning to you. shopping habits have a ripple effect on the global economy. asian markets were up on the news to record retail numbers. hong kong was unchanged. wall street investors like the packed stores. the dow added 172 points to once again move past the 13,000 mark where the nasdaq finished up 40 points. the holiday shopping season got started in record fashion thanksgiving night and the spending spree lasted through the weekend. a record 247 million shoppers visited stores or web sites over the four day weekend. this is an increase of more than 9% and they spent more than ever before, an estimated $59.1 billion. and retail analysts expect this cyber monday to be the biggest online shopping day of the year. they predict americans will spend one and a half billion dollars online today. that is an includes of 20% over -- increase of 20% over last year. >> did you get a lot of shopping done. >> i did a lot of shopping on friday. i wasn't planning on it. >> she has a new outfit. >> oh, shopping for yourself, are you. >> of course she is. >> i was at cost co, and i noticed that a
. the argument is the families will spend less and it will hurt the economy. >> you can see it across housing, and services, and things like paying for cell phone, groceries, durable goods, auto purchases. evidence like this is a reason why retailers are so concerned that congress has not yet extended the middle-class tax cuts. >>reporter: and carney noted the president spoke with harry reid and speaker boehner over the weekend. everyone is anticipating another high profile white house meet this week on the fiscal cliff sources in congress say there is you not one on the schedule so far. >>shepard: over the weekend some republicans are telling grover norquist to take a hike with the "we won't raise taxes" pledge. >>reporter: the fine tuning is they are saying we are okay with close loopholes but they don't want to raise tax rates. the republicans are saying the survey done by a group calls the winston group, a republican research firm, says 65 percent of americans back tax reform and spending cuts over the raising of taxes. here is the senate republican leader on what the g.o.p. is offering.
on rebuilding the middle class and strengthening our economy by investing in jobs, not cuts. on the other side, conservatives say it's not a game changer because from unions, this is really nothing new. >> the fact they are publicly saying what they have been privately saying is helpful the american people understand where obama's intransigence comes from, but nothing's changed. >> they negotiated details this week of the grand fiscal cliff compromise that democrats and republicans hope to reach. lawmakers back in town neex week, and there's a meeting loosely scheduled in the white house against top democrats and republicans in congress with president obama. dagen? dagen: thank you so much, happy thanksgiving, my man. down in washington, d.c., but here in studio with my, monica crowely, author of "what the bleep just happened?" how do they have influence over the white house and represent in terms of the private job market a tiny sliver of employees in the country? >> it really is incredible. we've seen a hemorrhaging away from the many, many past decades. you're right to say their influence i
into an 11 billion-dollar deficit. economists economists predict it would throw the economy into chaos triggering another recession. . many to 90% of california residents would see taxes go up. >> the cliff could also endanger the future of charities. nonprofit organizations are telling washington they can't survive if their funding is slashed. congress is considering a proposal that would cut from 35 to 28% the amount wealthy americans could write off in donations. >> a 1% decline in giving to american higher education would result in a loss of $300 million a year to colleges and universities. >> they have launched a new lobby including a website asking charities to contact their members of congress. >> the turkeys that didn't go to the thanksgiving table will be dished up because of the south of market store. more than 200 of their unsold fresh turkeys were frozen and donated to saint anthony's. they provide food for homeless, seniors and the working poor. they said that the need for food is still greater than ever, not just on the holidays. >> we can use this throughout novembe
's a wonderful point. longer term you are looking at the united states economy doing better than not bad. it will grind along. we're not calling it for a double dip recession in 2013. we think fiscal cliff will be resolved in large part. creating opportunity if you have done your homework and you have long-term discipline, use vo volatility to your advantage. great cash position. europe has good companies. china will stimulate. not like in 2009 but it will be there. i think the death of equities and u.s. market is greatly exaggerated. you do have to do your homework because short-term volatility will give you opportunities and challenges. >> after what we hear this weekend, does it make sense to focus on discretionary going into year end? >> it does. it has coming into the third and fourth quarter. again, pick your battles. understand what you're getting into. name specific analysis is critical. build that portfolio. look globally. it's more than just a u.s. story. looking into europe, emerging markets if you have a longer term time horizon. commodities. all of these things are going to
of jobs. use the most advanced technology to protect our water. billions in the economy. at chevron, if we can't do it right, we won't do it at all. we've got to think long term. we've got to think long rm. ♪ we've got to think long term. we've got to think long rm. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. >>> we are now less than 24 hours into the cease-fire between gaza and israel, but how long will it hold? we'll have a leive report for you, coming up. >>> plus, an explosion rocks a neighborhood in indiana and now we've learned that more than 30 homes will be demolished, just in time for the holidays. >>> and millions of people will be heading to the stores tomorrow on this upcoming black friday, but many others will actually just hop on their cell phones to shop. we'll have the best mobile apps for you comin
, the end of the blockade, or the easing of the blockade, that's crippled the economy now for four years, and the israelis want security, obviously, for because of the hamas rockets hit for the first time as far as tel aviv and jerusalem. so there's motive to move forward. the question is, is there the will. that's always been the issue. >> both sides have the motive to move forward, as you say. both sides also claiming victory in this small skirmish over the last several days. want to play a sound bite from the leader of hamas who spoke in gaza city. >> translator: the victory of gaza is a solid truth, not a phenomenon. the era of egypt and the region has changed, and america has now beginning to learn a new and listen to a new language. >> so is he right? is there a new era dawning in the middle east? and what does it mean for the u.s.? >> well, there's clearly a new era dawning in the middle east. and we're still trying to figure out what the new order is going to look like, as are many people on the ground. but both sides to a certain degree can claim a degree of victory here. hamas
that small businesses have to our economy, creating half of the private work force and two-thirds of the net new jobs. >> karen, basic question but an important one for consumers going out today. what is a small business? if i'm out shopping, how do i identify it? >> as you walk down main street in the community, many people have people with whom they have relations. it might abdely, a cupcake shop but you can walk in that business on small business start, and they have been preparing for months now. at the small business administration we've had a web page, they have come on and gotten tips so you might see a sign in the door. you might see a shop local. you might see them right out on the corner saying please help us celebrate small business saturday. and we are saying thank you to those people in our community who have done so much. they create jobs, and they support the little league and the girl scouts, so right on saturday i'm going to be walking down main street inri roslindal in boston saying thank you to the community. >> this is the third year you've done it. have you seen tangible
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